Insider Buying: Nexus Industrial REIT (TSE:NXR.UN) Director Acquires 50,000 Shares of Stock

Nexus Industrial REIT (TSE:NXR.UN) Director Edwin E. Mclaughlin acquired 50,000 shares of Nexus Industrial REIT stock in a transaction on Monday, December 9th. The stock was purchased at an average price of C$7.88 per share, with a total value of C$393,845.00.

Nexus Industrial REIT Trading Up 2.4 %

Shares of NXR.UN stock traded up C$0.19 on Wednesday, hitting C$7.96. The stock had a trading volume of 166,851 shares, compared to its average volume of 146,454. The company has a current ratio of 0.44, a quick ratio of 0.12 and a debt-to-equity ratio of 129.95. Nexus Industrial REIT has a twelve month low of C$6.47 and a twelve month high of C$9.15. The company has a fifty day moving average price of C$8.30 and a two-hundred day moving average price of C$7.89. The firm has a market cap of C$563.09 million, a P/E ratio of 3.21 and a beta of 1.51.

Nexus Industrial REIT Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, December 13th will be paid a $0.0533 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.64 dividend on an annualized basis and a yield of 8.04%. Nexus Industrial REIT’s payout ratio is 26.45%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NXR.UN. Scotiabank lifted their target price on shares of Nexus Industrial REIT from C$8.50 to C$9.00 and gave the company an “outperform” rating in a research report on Friday, August 16th. Desjardins upped their price target on Nexus Industrial REIT from C$8.75 to C$9.25 and gave the company a “buy” rating in a research note on Friday, August 16th. CIBC lifted their price objective on Nexus Industrial REIT from C$9.00 to C$9.50 in a research report on Wednesday, November 13th. Royal Bank of Canada raised their target price on shares of Nexus Industrial REIT from C$8.00 to C$8.50 in a research note on Friday, August 16th. Finally, BMO Capital Markets boosted their price target on shares of Nexus Industrial REIT from C$8.50 to C$9.00 in a research note on Monday, October 28th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of C$8.92.

Nexus Industrial REIT Company Profile

Nexus is a growth oriented real estate investment trust focused on increasing unitholder value through the acquisition, ownership and management of industrial, office and retail properties located in primary and secondary markets in North America. The REIT currently owns a portfolio of 73 properties comprising approximately 4.1 million square feet of rentable area.